China and Japan: Former Foes, Building Alliance

Wait…how is it that Japan retains the third strongest national economy on earth, yet is still more or less stuck in the same deflationary tepid growth and runaway debt which it sank into starting from the tactical implementation of the Plaza and Louvre Accords back in 1985 and 1987, respectively? How is Japan’s historical foe and seeming economic rival China learning from those 30+ year-old agreements what NOT to do in its searing trade war with the US, which is getting more acrimonious by the month?

Truth be told, and despite mainstream corporate media compulsively painting the two nations as eternal enemies, Japan is helping China learn from the Plaza Accord experience while simultaneously drawing strategically closer to its Asian neighbor economically and geostrategically. All with caution, of course, considering that their shared history is complex, often brutal, and they still retain many points of contention, yet Beijing and Tokyo nonetheless know that cooperating economically – especially in light of an increasingly belligerent, unpredictable and hyper-indebted US under the Trump administration – will garner longstanding regional and global benefits.

In this 34th episode of Money & Fear, and as always, in the program’s cited Show Notes listed under the videos on our website, a current and historical look at how these 2nd and 3rd most powerful economies on earth are exploring collaboration, and how it could result in a new growth paradigm incubated against outside monetary attacks, trade and tariff wars. All as another global debt crisis threatens to unravel at any moment….

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Wow. Fascinating, Pye. Thank you. This is a subject I don’t think much about and, obviously, I should (and need to). I plan to watch it again a few hours from now so it takes hold. A lot to learn here.